UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.01. Entry into a Material Definitive Agreement.
On August 1, 2023, GEN Restaurant Group, Inc. (the “Company”) entered into a Master Services Agreement (the “Services Agreement”) with Sysco Los Angeles Inc. (the “Supplier”).
Pursuant to the Services Agreement, the Company has agreed to purchase certain food products from the Supplier or its affiliates for use in the Company’s restaurants. The price of such products is calculated in accordance with the Services Agreement, with a minimum annual purchase volume of $40,000,000. The Services Agreement further provides for certain restrictions on weekly deliveries, and limitations on the types of products available for purchase by the Company. The Services Agreement will continue for a period of three years (the “Initial Term”), with such Initial Term automatically renewing for two successive one-year terms unless either party provides the other party with at least 90 days’ written notice before the end of the Initial Term or the then-current renewal term.
The foregoing description of the Services Agreement is qualified in its entirety by reference to the complete terms and conditions of the Services Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1* | Master Services Agreement, by and between Sysco Los Angeles Inc. and GEN Restaurant Group, Inc., dated as of August 1, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
| * | Certain confidential portions of this exhibit were omitted by means of marking such portions with asterisks because the identified confidential portions (i) are not material and (ii) would be competitively harmful if publicly disclosed. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: August 7, 2023 | GEN Restaurant Group, Inc. | |||||
| By: | /s/ Thomas Croal | |||||
| Thomas Croal | ||||||
| Chief Financial Officer | ||||||